The Federal Government and the Nigerian Economic Summit Group (NESG) have renewed their commitment to ensuring that the benefits of Nigeria’s recent macroeconomic reforms are translated into tangible improvements in the livelihoods of citizens through inclusive growth, job creation and poverty reduction.
This consensus was reached on Wednesday at the closing session of the 31st Nigerian Economic Summit (NES #31) held in Abuja, which brought together key stakeholders from the public and private sectors as well as international development partners.
Speaking on behalf of the Minister of Budget and Economic Planning, Senator Atiku Bagudu, the Minister of Finance and Coordinating Minister for Economy, Mr. Wale Edun, said the summit achieved its objective of forging consensus on critical reforms under the themes of reform, resilience and results.
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“Over the past three days, we have done exactly what this summit promised to do: build consensus under the pillars of reform, resilience and results, particularly growth that creates jobs, raises incomes and reduces poverty,” Edun said.
He said the Federal Government is determined to maintain macroeconomic stability while aligning national and subnational strategies to achieve a $1 trillion economy by 2030.
Edun noted that the summit deliberations highlighted key priorities such as strengthening institutions, building infrastructure, unlocking investments, boosting industrialization and promoting inclusion.
He added that the government would develop a unified implementation matrix aligned with specific sector reforms, national development plans and scalable subnational models to ensure that policy outcomes are measurable and impactful.
“Reforms must translate into better living standards and lift Nigerians out of poverty. That is the overall objective of the Renewed Hope Agenda,” Edun stressed.
The minister also highlighted ongoing fiscal and structural reforms, including improvements to the tax system, optimization of public assets, and integration of digital and artificial intelligence tools into financial management to improve efficiency and revenue generation.
For his part, the Chairman of the NESG, Mr. Olaniyi Yusuf, said it was time for the government to take advantage of the stabilized macroeconomic environment by implementing policies that directly improve the lives of Nigerians.
He also revealed that the NESG will design a framework to amicably resolve industrial disputes, following Vice President Kashim Shettima’s call for the group’s intervention in the recent clash between the Dangote Refinery and PENGASSEN.
NESG CEO Dr Tayo Aduloju hailed the summit’s legacy of contributing to important national policy milestones including the Petroleum Industry Bill, telecom liberalization and tax reforms, among others.
Aduloju noted that these achievements are documented in the NESG “Green Book,” adding that the group remains committed to advocating for the promotion of evidence-based policies that put the economy on a path of sustainable growth.
Edun concluded by reaffirming the government’s partnership with the NESG and other stakeholders to “maintain consensus, resolve bottlenecks, attract private capital and publish evidence-based results” ahead of the next economic summit.
“We are not leaving just with a statement, but with commitments and a shared responsibility to comply,” he said..
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